Capital / Liquidity

APRA to Update Licensing Approach for New Banking Entrants

18/03/2021

The proposed approach will support newly licensed banks so they are better equipped to succeed, according to APRA Deputy Chair John Lonsdale.

Market Infrastructure

Refinitiv to Publish Spread Adjusted SOFR for Cash Products

18/03/2021

Following an RFP process initiated in September, the ARRC has selected Refinitiv to publish spread-adjusted fallback rates for use in cash product contracts.

AML / KYC

FATF to Study Unintended Consequences of the FATF Standards

18/03/2021

The project will study issues such as de-risking, financial exclusion, the suppression of the NPO sector and threats to fundamental human rights.

AML / KYC

SFC Fines Yardley Securities for AML/CFT Breaches

17/03/2021

Yardley Securities processed and approved third party fund transfers without proper due diligence. Staff were not aware their employer had an MLRO.

Capital / Liquidity

Banks Facing FRTB Data and Modeling Difficulties

17/03/2021

Data was the number one challenge identified for FRTB implementation, with 59% of 131 respondents to a Bloomberg poll citing it as their main challenge.

Securities / Derivatives

PSE Proposes Tighter Rules for Listings via Reverse Takeover

17/03/2021

Companies will be required to conduct a public offering of at least 10 percent of their shares within one year from closing a transaction that results in a backdoor listing.

Enforcement

Australia Considers Legislation to Make Boards Liable for Cyber Risk

17/03/2021

Legislation currently before Parliament includes security obligations for entities responsible for critical infrastructure, a list that will be significantly expanded.

Capital / Liquidity

Thai Banks Announce Lower Dividends Amid Declining Profitability

17/03/2021

The dividend announcements are in line with the central bank’s requirements for banks to limit payouts to 50 percent of 2020 net profit.

Securities / Derivatives

Taiwan FSC Directs More Firms to File Reports in English

17/03/2021

A total of 657 listed companies are required to file English-language reports this year, up from 351 firms last year.